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Selected Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Data |
(17) | Selected Quarterly Financial Data (unaudited)
Fiscal 2017
|  | First |  |  | Second |  |  | Third |  |  | Fourth |
|  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter(1)(2)(3)(4) |
|  | (In thousands, except per share data) |
Net sales |  | $ | 252,604 |  |  | $ | 243,671 |  |  | $ | 270,471 |  |  | $ | 242,889 |
Gross profit |  | $ | 83,622 |  |  | $ | 79,308 |  |  | $ | 87,548 |  |  | $ | 72,854 |
Net income (loss) |  | $ | 5,326 |  |  | $ | 2,778 |  |  | $ | 5,950 |  |  | $ | (12,950 | )
Basic earnings per share |  | $ | 0.25 |  |  | $ | 0.13 |  |  | $ | 0.28 |  |  | $ | (0.62 | )
Diluted earnings per share |  | $ | 0.24 |  |  | $ | 0.13 |  |  | $ | 0.28 |  |  | $ | (0.62 | )
Fiscal 2016
|  | First |  |  | Second |  |  | Third |  |  | Fourth |
|  | Quarter(4)(5) |  |  | Quarter(5)(6) |  |  | Quarter(6) |  |  | Quarter(5) |
|  | (In thousands, except per share data) |
Net sales |  | $ | 234,528 |  |  | $ | 241,409 |  |  | $ | 279,015 |  |  | $ | 266,283 |
Gross profit |  | $ | 70,965 |  |  | $ | 76,257 |  |  | $ | 89,889 |  |  | $ | 87,347 |
Net (loss) income |  | $ | (1,119 | ) |  | $ | 2,124 |  |  | $ | 8,187 |  |  | $ | 7,694 |
Basic earnings per share |  | $ | (0.05 | ) |  | $ | 0.10 |  |  | $ | 0.38 |  |  | $ | 0.36 |
Diluted earnings per share |  | $ | (0.05 | ) |  | $ | 0.10 |  |  | $ | 0.38 |  |  | $ | 0.35 |
(1) | The Company recorded a charge of $5.5 million in the fourth quarter of fiscal 2017 to revalue existing net deferred tax assets resulting from the enactment of the Tax Cuts and Jobs Act in December 2017. This charge reduced net income by the same amount, or $0.26 per share. Additionally, in the fourth quarter of fiscal 2017, the Company recorded a charge of $0.6 million, net of the federal income tax benefit, to establish a valuation allowance related to unused California Enterprise Zone Tax Credits, which reduced net income in fiscal 2017 by the same amount, or $0.03 per share.
(2) | The Company recorded a pre-tax non-cash impairment charge of $0.6 million in the fourth quarter of fiscal 2017 related to certain underperforming stores. This charge reduced net income in the fourth quarter of fiscal 2017 by $0.4 million, or $0.02 per share.
(3) | The Company recorded a non-cash goodwill impairment charge of $4.4 million in the fourth quarter of fiscal 2017, which reduced net income in the fourth quarter of fiscal 2017 by the same amount, or $0.21 per share.
(4) | The Company excluded all potential share option awards, nonvested share awards and nonvested share unit awards from the computation of diluted earnings per share for the first quarter of fiscal 2016 and the fourth quarter of fiscal 2017, since the Company reported a net loss in each respective period and the effect of their inclusion would have been antidilutive.
(5) | The Company recorded write-offs (benefits) of $0.7 million, $0.2 million and $(0.4) million in the first quarter, second quarter and fourth quarter of fiscal 2016, respectively, related to share-based compensation. These amounts reduced (increased) net income by the same respective amounts, or $0.03, $0.01 and $(0.02) per diluted share, respectively.
(6) | The Company recorded pre-tax charges of $0.1 million and $1.1 million in the second quarter and third quarter of fiscal 2016, respectively, related to store closing costs. These charges were included in selling and administrative expense and reduced net income in the second quarter and third quarter of fiscal 2016 by $60,000, or $0.00 per diluted share, and $0.7 million, or $0.03 per diluted share, respectively.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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